Innovation and creativity play a significant role in the case of developing a successful organization (Amabile and Pratt, 2016). In the process of innovation the new idea is being introduced in the market which influences the performance standard of the organization. In the current situation, with the changing needs and demands of the customers it has become very important for the organizations to develop an effective innovation techniques so that it will be able to maintain its string position in the market. The purpose of the study to highlight the company named Matchbox architects. The company has decided to bring the effective designing practices in the construction industry (Matchboxarchitects.co.uk 2018). In order to bring the innovation in the market the company has aimed to develop the ethical and socially responsible design so that it can satisfy the large number of customers (Matchboxarchitects.co.uk 2018). It has been identified that due to rapid growth, performance challenges, unproductive meetings, firefighting and unstable economic condition, the company is dealing with various challenges. The purpose of the study is to highlight the importance of the innovation in order to satisfy the customer needs. Aim of the study is to focus on identifying the significance of innovation and creativity in the modern industry. Different models and theories of innovation have been highlighted in this study for bringing the innovation in the workplace in organizational performance. After situational analysis, the study has provided few measurable recommendations that can help to bring the effective innovation practices in the construction industry.
Creativity and innovation are two most important aspect of any creative field including the architectural firms that sustain on the building of proper houses for the people who are their clients (Drucker 2014). Being a service based industry, the architectural firms strive to innovate their designs and enhance their creative sides with every order and hour with the better implementation of expert team and concerning on models and theories.
The problems that the company Matchbox Architects are facing are related to challenges in rapid growth faced by the operational leadership and management. According to the opinios of Edquist(2013), the clash of creativity with the leadership business is another problem which are analyzed by the human resource capital and creative thinking of the all levels. The current problems of Matchbox Architects include their budgetary constraints with financial issues along with discrimination and quality issues. The issues of discrimination and firefighting are some of the other issues that require innovative and creative thinking for the solving of the problem.
The importance of creativity and innovation in an architecture firm namely Match Box Architect are as follows –
One of the greatest importance of innovation and creativity is to niche a name for the company in the thread of the other companies and their designs. The architecture firms are employed to make the houses either customized for the clients or to make the houses have their own level of designs and other features that distinguishes the company from its contemporaries. According to the theories of Goldberg(2013), with better creativity and innovation in the firms, the company builds a name for itself amongst steep competition.
Another importance of innovation and creativity in the architecture firms is to make space to build houses that cater to the environmental needs as well as sustenance theory of the business. With proper innovation process, the company can make sure to have the level of environment protection view in association with the profit that the business makes (McCullen et al. 2013). With the innovations related to the environmental sustainability, the architecture firms can include nature with their modern designs.
Another importance of creativity and innovation is to make the diverse changes and challenges in the organization. With implementation of creativity and innovative process, the workers are able to work in the diverse manners which will help the company to have diverse customer base. Innovation and creativity has been appreciated by the people of the organization for the betterment of the financial aspects and also to have better customer satisfaction.
Another major significance of creativity and innovation is to have a number of styles and products that they present to their set of customer base. As the number and the type of customer base is different for each of the project conducted by the organization or the enterprise, they have to implement different levels of innovation and creative ideas to satisfy their various customers. Therefore according to Laciana, Rovere and Podestá(2013), as the role of architecture firm is to make sure to satisfy the various types of customers in their organization, the role of innovation and creativity is of prime importance.
Innovation and creativity help the organization to sustain in the face of steep competition and help the organization to sustain in the face of fallout from the rest of the stages of the organization. The innovation process and the creative aspects of the architect firm help the organization to have great craftsmanship for the process of innovation and creative mindset.
There are a number of theories of innovation that are associated with the workplace for the better processing of creativity and innovative means. The various theories of innovation help the organization to process better and original ideas that can be fruitful for the business and reputation of the organization in a service related sector. The theories of innovation that are there in the workplace of the architecture firms are as follows –
TRIZ, an acronym for the Theory of Inventive Problem solving is one of the foremost and important analytical tool for the forecast of the invention patent in the global scale industries. According to Ilevbare, Probert and Phaal(2013), the basis of the tool is to find effective solutions for the problems that are difficult to solve and also to find a framework for easy innovation process. There are approximately 40 principles in the mechanism that help the tool to solve the various problems that are there in the process. The problems that are analyzed by the tool help the organization to have better view of the problems and also mentions the ways and means to solve the problem in some way or the other. The Match Box Architect also mentions their problems along the lines of the 40 principles which help to invent the patent and also enhance creative thinking.
This is one of the major theories of innovation that states that small companies are liable for the disruption of the market of the large companies by innovating new stuffs and things and by their creative measures. According to the views of Fransman(2014), the small companies and the startups have the legacy to invent more of the products and also give adequate innovative techniques for overcoming the disruptive measures of the big companies. The Match Box Architect has invented new stuff for their customers and which has overturned many big companies of the genre.
One of the most important innovation process is the system of Lean Innovation measures that focuses on the maintenance of innovation projects in the start-ups than the traditional means. The Design Thinking and Agile Development principles are useful in addressing the matter of encouraging small scale experiments rather than making bigger changes in the first place (Boons et al. 2013). One of the premium linking of Match Box Architect is the concept of Lean innovation measures that addresses the concepts of small changes in the buildings rather than making bigger changes in the sense. It is one of the perfect theories of small scale companies for small budget companies.
Goldman Sachs Asset Management Model is one of the basic quantitative model that is used for improving the financial condition of the company and analyses the performance in the organization based on the financial statements of the problems. According to the view of West and Bogers(2014), the factor models are categorized into statistical models, macro economical models and fundamental models. The measures adopted for the asset management issue can be categorized into value, growth and momentum and risk. The three factors along with the other issues are included to make sure that the model of innovation is highly implemented.
Match Box Architect is one of the premium startup companies which also faces a number of financial disruption like financial problems and economic crisis. According to the theory of Autio et al. (2014), the financial problems as well as economic crisis can be maintained by the use of the model to have the basis of the business of the company adhere to the means. The model of innovation can also be implemented to have a detailed analysis of the financial crisis of the whole scene in the period of time.
Another model of innovation that can be implemented by the company for the various uses is the Linear Model of Innovation. In the views stated by Petkovska (2015), in this model of innovation, the changes of the organization happens in an organized manner and starts from the invention process and goes through the process of innovation to the final process of diffusion. This process of Innovation, also known as the Traditional Phase Gate Model is also used to make sure that the innovation process is taken at the early stage to minimize the risk of the company. Match Box Architect being one of the startup companies can implement the process of Linear Innovation technique for the betterment of the innovation process from inventing the process to finally diffusing the innovation process in terms of creative thinking.
The models of innovation can be seen in the light of market and technological push which again makes use of the whole startup in the light of the innovative measures that has been used. The models of innovation make sure to have the detailed analysis on the startups and also have better focus on the systems that are required in the innovative and creative thinking of the organization (Autio et al. 2014). The models of innovation are implemented to make sure that each of the problems of the company as a startup and other factor is to be analyzed to maintain the solutions of the problems in selected means.
Match Box Architects is one of the premium startup companies that have implemented the models and theories and can improve the financial and innovative conditions of the financial stature of the company in the longer period of time. From the above analysis, it can be seen that the models and theories of innovation are to be included to make sure that the company has all the required ideas and concepts to make the working of the company better in every aspect of the term.
Conclusion
In this study, it can be concluded that due to the rapid growth in the construction industry, the company named Matchbox architects is dealing with several challenges. Over budget for the running projects has brought the economic challenges in the company. Unproductive meetings and compromise in performance standard of the employees in the organization have brought various challenges for its development. As it is a construction organization, therefore, it is very important for the company to deal with the fire fighting related issues. It has been identified in this study that in order to manage such situations, creative thinking is very important. Using the TRIZ, Disruptive and Lean innovation models, the study has critically analyzed the organizational situation. In order to analyze the financial situation the Goldman Sachs model has been highlighted in this study. Using the Goldman Sachs model, the study has highlighted that it will be effective for improving the performance quality of the employees. Training and development practices have been mentioned as the important element for bringing the performance development in the workplace. Not only the performance management issues but also Goldman Sachs model is very effective in the case of dealing with the financial challenges of the company.
From the above analysis several recommendations can be given to the organization namely Matchbox Architects. In order to analyze the situation the company needs to focus on creative thinking practices. Using the creative problem solving models issue regarding the employee performance can get developed. It has been recommended in this study that by introducing effective training and development practices, the company will be able to maintain the performance standard. On the other hand, economic issue has become the major concern of the company. It has been recommended in this stud that if the proper financial structure can get developed in the organization, it can help to manage the cash flow in the company. Pricing strategy of an organization is very important. The study has already mentioned that the company is recently dealing with the business issues. On the other hand, it has been suggested that in order to reduce the firefighting issues, the open innovation techniques as well as efficient employees are required. Introducing the creative leadership practices in the organization, the employees will get motivated towards achieving their goals and objectives. As its result the rate of productivity as well as performance standard can get maintained. If the company will be able to follow the recommendations, it will be able to mitigate its challenges as well as the professional capabilities of the employees can get increased.
Reference list and bibliography.
Amabile, T.M. and Pratt, M.G., 2016. The dynamic componential model of creativity and innovation in organizations: Making progress, making meaning. Research in Organizational Behavior, 36, pp.157-183.
Autio, E., Kenney, M., Mustar, P., Siegel, D. and Wright, M., 2014. Entrepreneurial innovation: The importance of context. Research Policy, 43(7), pp.1097-1108.
Boons, F., Montalvo, C., Quist, J. and Wagner, M., 2013. Sustainable innovation, business models and economic performance: an overview. Journal of Cleaner Production, 45, pp.1-8.
Drucker, P., 2014. Innovation and entrepreneurship. Routledge.
Edquist, C., 2013. Systems of innovation: technologies, institutions and organizations. Routledge.
Fransman, M., 2014. Models of innovation in global ICT firms: The emerging global innovation ecosystems. JRC SCIENCE AND POLICY RAPORT, University of Edinburgh.
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